December 06, 2011Fannie Mae's Phoenix Mortgage Help Center Celebrates One Year of Helping Area Homeowners Avoid Foreclosure
PHOENIX, AZ – Today Fannie Mae and Neighborhood Housing Services of Phoenix celebrated one year of helping homeowners avoid foreclosure at the Fannie Mae Phoenix Mortgage Help Center. Since opening in December 2010, the Center counseled about 1,500 homeowners, helping more than 900 families avoid foreclosure. Of those families that successfully avoided foreclosure, 65 percent received loan workouts that allowed them to remain in their homes.
Experienced Housing Counselors at the Phoenix Mortgage Help Center work one-on-one with customers in person and over the phone to review their mortgage situation, explain the range of options available, and help borrowers apply to their loan servicers for loan modifications and other alternatives to foreclosure. Fannie Mae now has twelve Mortgage Help Centers around the country to provide free education and counseling services to struggling homeowners.
"Phoenix has been hit hard by the economic downturn and Fannie Mae is committed to doing everything we can to make sure homeowners facing hardships know the options available to them and have access to the help they need," said Jeff Hayward, Senior Vice President, National Servicing Organization, Fannie Mae. "Homeowners who have access to these resources need to understand their options, and are more likely to take action and make informed decisions. The Mortgage Help Center is here for that reason and we are proud of our efforts in Phoenix over the last year to help more than 900 families avoid foreclosure."
Deborah Kay, a customer of the Phoenix Mortgage Help Center, said, “I was on my own for the first time at forty years old and I was so proud of my home. When I received a foreclosure notice, I was terrified I was going to lose my home. I was going in circles with my bank and getting nowhere. My counselor, Claudia became my muscle and she saved my home. I tell everyone I know, go to the Help Center. They will help you.”
“NHS Phoenix is very pleased to be a partner of Fannie Mae,” said Patricia Garcia Duarte, President and CEO of Neighborhood Housing Services of Phoenix, Inc. “The services offered by the Mortgage Help Center have provided distressed families with the tools they need to avoid foreclosure. The employees at the Center provide a personal experience that our residents truly value and we are excited to celebrate this important milestone in the Center's one-year anniversary. Our community is better off having a Mortgage Help Center.”
The Phoenix Mortgage Help Center is available by appointment only and borrowers wishing to schedule a visit should call (866) 442-8574 or E-mail firstname.lastname@example.org. The help center provides free homeownership counseling services to any borrower who has a mortgage held by Fannie Mae. Homeowners can determine if Fannie Mae owns their loan by visiting www.fanniemae.com/loanlookup or by contacting Fannie Mae at (800) 7FANNIE. Homeowners who do not have loans owned by Fannie Mae can contact the Homeowner's HOPE™ Hotline at (888) 995-HOPE or visit Fannie Mae's consumer Web site, www.knowyouroptions.com.
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
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